New Delhi, Sep 18 (UNI) The Manipur Government has decided to take up coal mining for thermal power production with a capacity of at least 500 Mega Watts(MW).
According to official sources, the State Government took this decision following the issuance of the policy by the Ministry of Coal and Mines, Government of India to allow the State Government Companies or undertakings to do mining of coking and non-coking coal or ignite reserves, either by opencast or underground method anywhere in the country under certain conditions.
The State Government will enter into a Joint Venture agreement with a suitable entity for this purpose and will form a State Government Company as defined in the Companies Act of 1956.
The Joint Venture Company will be engaged in mining of coal to be supplied to the coal-based Thermal Power Plant to be set by the Joint Venture Company itself or through a subsidiary company of the Joint Venture or promoted by the Joint Venture partner under the mutually agreed term and conditions. The Government of Manipur will have a right to the share of profit in coal mining business and also a certain percentage of power generated by the thermal power production free of cost.
To select the suitable Joint Venture Partner for the purpose, the Electricity Department of Manipur Government recently invited Expression of Interest from individual companies. The Company having a minimum net worth of Rs 250 crore, a minimum turnover of Rs 1,000 crore, experience in mining of coal as well as owning and operating its own coal mine and experience in setting up of power projects is eligible for the venture. The financial bid of the qualified bidder will be opened on September 24 at the Manipur Bhavan here.
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